Economy

Saturday, June 7th 2014 - 04:37 UTC
IMF warns UK about a possible 'housing bubble' and low productivity

The International Monetary Fund (IMF) has warned the government that accelerating house prices and low productivity pose the greatest threat to the UK's economic recovery. Rising property values could leave households more vulnerable to income and interest rate shocks.
Saturday, June 7th 2014 - 04:24 UTC
US economy has regained all 8.7 million jobs lost during the recession

Employers in the United States added 217,000 jobs in May, slightly below what analysts had been expecting. The US non-farm payroll figure was well below April's revised number of 282,000 jobs, but it was still the fourth month in a row of solid gains. The unemployment rate in May remained at 6.3%.
Friday, June 6th 2014 - 08:49 UTC
Countdown for Argentina's decisive litigation with hedge funds; IMF concern

The International Monetary Fund expressed “concern” on Thursday over the outcome of Argentina's 'vulture funds' case. The US Supreme Court is scheduled to consider on June 12 whether to hear Argentina's appeal of rulings requiring it to pay the holdout bondholders back in full.
Friday, June 6th 2014 - 08:38 UTC
Europe appeals to negative interest rates to stimulate the economy and inflation

The European Central Bank has introduced a raft of measures aimed at stimulating the Euro zone economy, including negative interest rates and cheap long-term loans to banks. It cut its deposit rate for banks from zero to -0.1%, to encourage banks to lend to businesses rather than hold on to money. The ECB also cut its benchmark interest rate to 0.15% from 0.25%.
Friday, June 6th 2014 - 08:21 UTC
Pope's broom again active: names four experts to watchdog Vatican finances

Pope Francis sacked on Thursday the five-man board of the Vatican's financial watchdog, all Italians, in the latest move to break with an old guard associated with a murky past under his predecessor.
Friday, June 6th 2014 - 08:16 UTC
Argentina announces auto industry accord with Brazil; May sales collapsed 40%

Argentina agreed to sign a one-year deal with Brazil to regulate vehicle trade between both countries, after a meeting held between Industry Minister Débora Giorgi and her Brazilian counterpart, Mauro Borges. The agreement will be signed on June 11 in Buenos Aires.
Friday, June 6th 2014 - 08:02 UTC
Italy planning to boost economy by including shadow economy as part of GDP

Drugs, prostitution and arms smuggling may not be legal, but it's all real economic activity, at least in Italy, which will now include illegal enterprises as part of its gross domestic product (a measure of the goods and services a nation produces). Italy has decided to boost the size of its economy by including the value of black market activities.
Thursday, June 5th 2014 - 06:54 UTC
Brazil scales back levies on foreign loans to help prop the national currency

The government of Brazil is cutting the tax obligations faced by business receiving foreign loans, opening the door to more financing opportunities, while helping address the problem of the falling value of the national currency, Real.
Thursday, June 5th 2014 - 00:04 UTC
Falklands developing strongly and with a high international community profile

Falkland Islands are enjoying the benefits of a healthy well managed economy, with excellent present and future prospects in its main industries, but also face challenges such as the need for manpower, closely linked to immigration, planning for a balance between environment and oil industry, a modern government and the continued attempts by Argentina to stifle the Islands economy and block economic development.
Wednesday, June 4th 2014 - 20:26 UTC
Falklands' welcomes rig-contract which marks beginning of oil drilling season in first quarter of 2015

The Falkland Islands Government welcomed the announcement on Thursday morning that a drilling rig has been contracted by a consortium of licensees for a new six-well program of offshore exploration and appraisal work commencing in early 2015.